Tuesday, November 18, 2008

Mark Cuban may be in trouble with the Feds but he's got our back.


Dallas Maverick owner, Mark Cuban is facing SEC charges of insider trading regarding his sale of Mamma.com stock. We mention this only as a lead-in for what the outspoken, often controversial and luxury-suite eschewing billionaire should be mentioned.

Cuban has founded a website called Bailout Sleuth which is dedicated to tracking all that jack that is being thrown at the banks by the federal government and identifying those specific banks that are the target of federal largesse because Paulson won’t.

Here’s a quaint bit of self-evident mission-stating from the site:

Some readers have asked why BailoutSleuth keeps publishing these roundups of banks that were chosen for government aid. We're doing it because the Treasury Department is not. That agency has taken the position that it will disclose the investments only after the money changes hands - a policy that makes it harder for the public to raise objections.

Our lists come from press releases issued by participating banks.


You gotta love it. The Treasury Dept. is going to stay mum but the banks themselves can’t wait to shout it from the mountain top to customers and investors alike that help is on the way!

We salute you, Mr. Cuban. A blogroll shall be forthcoming.

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